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GreenRock Capital, LLC, has completed first C-PACE financing in TN on behalf of the developer of a senior living facility in Nashville.

GreenRock Capital Closes Tennessee’s First C-PACE Loan for Affordable Senior Project

GreenRock Capital, LLC, has completed first Commercial Property Assessed Clean Energy (C-PACE) transaction in TN history. The recipient of the financing, developers of the White House Senior Living facility in the Nashville area, will use the funding to address the region’s continued shortage of senior housing.

The inclusion of C-PACE in the developer’s financing stack reduces the overall costs for qualifying measures related to energy efficiency, water conservation, renewable energy and resiliency. C-PACE financing allows property owners and developers to access capital for new construction, repositioning and capital improvements, with the capital being repaid via the property tax bill.

The recipient’s $3.5 million in C-PACE capital will cover the cost of energy-efficient project enhancements including high efficiency windows, LED lighting and HVAC systems. By lowering the cost of development through C-PACE financing, it is the developer’s and city’s goal to increase the volume of affordable senior living in Nashville.


Inside The Story

GreenRock Capital, LLC

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Financing